EOS New York Block Producer released their proposal for a new EOS constitution, but they announced that they will not directly submit it for referendum. The top BP said that it is up to the community to decide if they believe this Agreement is a good foundation on which to build the ways we make collective decisions and direct the growth of the EOS Mainnet. Anyone can take this open source document and put it under the referendum or amend it to their own will.

EOS Platform User Agreement

Article I — Process for ratification of this EOS Platform User Agreement.

This user agreement is considered ratified and approved for purposes of governing EOS Blockchain {{chain_id}} when no less than 15% of issued tokens participating and no fewer than 10% more Yes than No votes, sustained for 30 continuous days within a 120 day period.

Article II — Defines the distributed jurisdiction of the EOS blockchain and that it exists in no physical place.

The EOS blockchain {{chain_id}} is immutable and all records and actions are recorded forever. EOS blockchain {{chain_id}} exists in a distributed and decentralized jurisdiction. The EOS blockchain {{chain_id}} is to be governed by and construed under the rules contained herein, this duly ratified agreement.

Article III — Defines the User types and consent to the EOS Platform User Agreement.

A User is any person or organization of persons who maintain(s) direct or indirect ownership of an EOS account, or property connected to an EOS account.

  • Users who sign regproducer agree to, and are bound by, the regproducer Ricardian Contract.
  • Users who sign regarb agree to, and are bound by, the regarb Ricardian Contract.
  • Users who sign regforum agree to, and are bound by, the regforum Ricardian Contract.

Article IV — Defines consent of this EOS Platform User Agreement.

By claiming direct or indirect ownership of an EOS account or property connected to an EOS account on EOS blockchain {{chain_id}} Users consent to these terms, definitions, and agreed upon standards with full consideration between all Users. {{chain_id}} string is included in the signature of every valid transaction.

Article V — Outlines maintenance of all governing documents.

The EOS Platform User Agreement, regproducer, regarb, regforum, are considered governing documents and are to be modified only by User referendum.

Article VI — Defines User Referendum.

User referendum is the sole mechanism for altering governing documents and/or effecting network funds. User referendums must be submitted on-chain either in full text or as a hash of the referendum text. A User referendum is considered approved for execution once at least 15% of issued tokens have registered a vote for the associated referendum, ‘affirmative’ tokens exceed the number of ‘negative’ staked tokens by a difference of no less than 10% of total percentage of registered votes (i.e. 55% yes, 45% no) EOS. This threshold must be met and remain above the minimum requirements for a period of at least 30 consecutive days within a 120-day period. Should a User referendum not be approved for execution within the 120-day period, it is considered expired and must be resubmitted if another vote is desired. The 120-day period starts when the transaction which includes the referendum question is appended to the blockchain. EOS tokens issued during the 120-period are counted toward the total issued amount calculation.

Article VII — Defines Native Unit of Value.

The native unit of value on the EOS public blockchain shall be the EOS token as defined and created by the eosio.token smart contract.

Article VIII — Delineates the responsibilities of maintaining the EOS blockchain.

Elected Block Producers who have signed the regproducer Ricardian Contract will maintain the active blockchain codebase. Further, they shall participate in the testing, review, and implementation to all modifications of existing features, all optimizations, and all upgrades: present and future. Any attempt to alter any governing document, as well as any action that may alter the current state of any tokens considered “network funds” is prohibited without prior authorization obtained through a User Referendum conducted in accordance with Article VI. All other stipulations, requirements, demands, and standards for all Block Producers who agree to regproducer shall be delineated in the regproducer agreement.

Article IX — Defines Network Funds.

Network Fund accounts are accounts that hold property which is subject to distributed ownership amongst the Users, and has no single User owner. Altering any pre-existing code that directly governs the allocation, fulfillment, or distribution of any network funds also requires User referendum. Network fund accounts are as follows: eosio.names, eosio.ramfee, eosio.saving

Article X — Formally recognizes The New York Convention of 1958 allowing foreign arbitral awards to be recognized so long as the award author is registered on-chain.

The Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958, shall be recognized by all Users of this blockchain {{chain_id}} where the author of any such arbitral award is duly registered on-chain {{chain_id}} via regarb Ricardian.

Article XI — States that valid arbitration is binding. Submission to arbitration can occur before or after a dispute so long as parties consent. Arbitration can only occur when using {{regforum}} or {{regarb}}.

Any on-chain provision included in any on-chain transaction, smart contract, or Ricardian Contract, involving any type of EOS based property that results in controversy between parties to such a provision, or the refusal by any party to such a provision to perform the whole or any part thereof, or any controversy arising out of any other type of on-chain agreement between parties, shall be settled by arbitration. If such a provision names or appoints an arbitrator or arbitrators registered through regforum Ricardian Contract or regarb Ricardian Contract, such method shall be followed. The application of either party to the controversy to the duly named {{regforum}} or {{regarb}} in such an on-chain provision is valid and enforceable, and {{regforum}} or {{regarb}} will act to resolve the controversy with full binding force and effect. Where agreed upon, users will submit to arbitration an existing controversy arising out of an on-chain transaction, smart contract, or Ricardian contract and will be administered by an arbitrator or arbitrators registered through regforum Ricardian Contract or regarb Ricardian Contract.

Article XII — Defines what is “on-chain”.

On-chain, as herein defined, means any transaction, smart contract, or Ricardian contract which is located within a block that has been deemed irreversible and appended to the EOS blockchain {{chain_id}}.

Article XIII — Establishes the only circumstances under which accounts or contracts may be modified by Block Producers on behalf of the user.

Block Producers may never affect EOS User accounts where the owners of said account have not explicitly requested and prescribed the exact actions requested and have proven their ownership, or their authority, by way of a valid arbitral award authored by a duly registered arbitrator on-chain via regarb, to Block Producers. Block Producers may charge a fee for this service which is to be deposited into the eosio.vpay network fund to be distributed across all paid nodes.

Article XIV — No fiduciary.

No User shall have a fiduciary responsibility to support the value of the EOS token. No User can authorize anyone to hold assets, borrow, speak, nor contract on behalf of EOS token holders or the blockchain {{chain_ID}} collectively. This blockchain shall have no owners, managers, or fiduciaries.

Article XV — Personal security is the responsibility of the User, no one else.

All items pertaining to personal account security, including but not limited to the safekeeping of private keys, is solely the responsibility of the User to secure.

Article XVI — Freedom of association and contract; section on the right to create contracts between users.

The EOS Platform User Agreement grants freedom of contract based on agreement and free choice to all Users. No part of this Agreement shall impair, interfere, or infringe upon the mutually agreed upon contracts between Users.

Article XVII — Inflation.

Inflation is set at 1% per annum which is to be allocated to Block Producers for services provided to the EOS Blockchain {{chain_id}}.

Article XVIII — EOS Property Definition

Any object on-chain {{chain_id}} that requires a private key in order to directly manipulate, alter, transfer, influence, or otherwise effect.

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